Canvas Wealth Advisors LLC Makes New Investment in Emerson Electric Co. $EMR

Canvas Wealth Advisors LLC bought a new stake in Emerson Electric Co. (NYSE:EMR) in the second quarter, HoldingsChannel reports. The firm bought 1,343 shares of the industrial products company’s stock, valued at approximately $179,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC purchased a new position in Emerson Electric during the second quarter valued at $38,000. CORDA Investment Management LLC. bought a new position in shares of Emerson Electric in the 2nd quarter worth about $1,173,000. Unison Advisors LLC lifted its position in Emerson Electric by 0.5% during the 2nd quarter. Unison Advisors LLC now owns 21,416 shares of the industrial products company’s stock valued at $2,855,000 after acquiring an additional 115 shares during the period. Balboa Wealth Partners boosted its stake in Emerson Electric by 22.4% during the second quarter. Balboa Wealth Partners now owns 2,635 shares of the industrial products company’s stock worth $351,000 after acquiring an additional 483 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its stake in shares of Emerson Electric by 2.7% during the second quarter. Calamos Wealth Management LLC now owns 110,469 shares of the industrial products company’s stock valued at $14,729,000 after purchasing an additional 2,873 shares in the last quarter. 74.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EMR has been the topic of several recent research reports. Wells Fargo & Company restated an “equal weight” rating and issued a $140.00 price target (down previously from $150.00) on shares of Emerson Electric in a research note on Monday, October 6th. Wolfe Research cut their target price on Emerson Electric from $173.00 to $172.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. TD Cowen raised Emerson Electric to a “strong-buy” rating in a research report on Tuesday, July 8th. Barclays raised shares of Emerson Electric from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $125.00 to $127.00 in a research report on Thursday, August 7th. Finally, KeyCorp upped their target price on shares of Emerson Electric from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.28.

Emerson Electric Price Performance

Shares of NYSE:EMR opened at $130.32 on Tuesday. The business has a 50-day simple moving average of $131.90 and a two-hundred day simple moving average of $126.32. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.63 and a current ratio of 0.85. The firm has a market cap of $73.34 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 2.24 and a beta of 1.29. Emerson Electric Co. has a fifty-two week low of $90.06 and a fifty-two week high of $150.27.

Emerson Electric (NYSE:EMR) last announced its quarterly earnings results on Thursday, April 6th. The industrial products company reported $0.79 EPS for the quarter. Emerson Electric had a net margin of 14.92% and a return on equity of 14.34%. The firm had revenue of $3.16 billion during the quarter. On average, analysts expect that Emerson Electric Co. will post 5.96 earnings per share for the current year.

Emerson Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 15th. Emerson Electric’s dividend payout ratio is 45.38%.

Emerson Electric Profile

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.